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Ant Group's exhibition hall in Hangzhou, Zhejiang province. [Photo by Long Wei/For China Daily]

Another western province Guizhou, capitalizing on big data, the information industry and tourism, has emerged as another top-performer in economic development.

Another factor was a rebound in the producer price index, which fell 3 percent year-on-year in June, compared with a 3.7 percent decline in May, the analysts said.

Apart from the traditional home appliances sector, Hisense is tapping into the mobile phone industry in Europe. The company launched two new types of smartphones to lure consumers from Russia.

Apart from China's improved business environment dominated by the market economy, the nation's comprehensive advantages based on efficiency, labor quality, resources and digital and physical infrastructure will continue to help the nation attract investment from global companies over the long term. Backed by its institutional advantages, impressive mobilization ability and industrial system, the country's epidemic prevention and control work fully demonstrates China's strength in overcoming difficulties. This will play a key role in attracting foreign investment in the future.